Faroe Islands Population: 50,456

The population of the Faroe Islands is largely descended from Viking settlers who arrived in the 9th century. The islands have been connected politically to Denmark since the 14th century. A high degree of self-government was granted the Faroese in 1948, who have autonomy over most internal affairs while Denmark is responsible for justice, defense, and foreign affairs. The Faroe Islands are not part of the European Union.

Archipelago of 17 inhabited islands and one uninhabited island, and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands

Location:

Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about halfway between Iceland and Norway

conventional long form: none conventional short form: Faroe Islands local long form: none local short form: Foroyar etymology: the archipelgo's name may derive from the Old Norse word "faer," meaning sheep

Government type:

parliamentary democracy (Faroese Parliament); part of the Kingdom of Denmark

none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark); there are no first-order administrative divisions as defined by the US Government, but there are 30 municipalities

Independence:

none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark)

National holiday:

Olaifest (Olavsoka), 29 July

Constitution:

history: 5 June 1953 (Danish Constitution), 23 March 1948 (Home Rule Act), and 24 June 2005 (Takeover Act) serve as the Faroe Islands constitutional position in the Unity of the Realm amendments: see entry for Denmark (2016)

cabinet: Landsstyri appointed by the prime minister elections/appointments: the monarchy is hereditary; high commissioner appointed by the monarch; following legislative elections, the leader of the majority party or majority coalition usually elected prime minister by the Faroese Parliament; election last held on 1 September 2015

description: unicameral Faroese Parliament or Logting (33 seats; members directly elected in a single nationwide constituency by proportional representation vote; members serve 4-year terms) note: election of 2 seats to the Danish Parliament was last held on 18 June 2015 (next to be held no later than June 2019); percent of vote by party - NA; seats by party - Social Democratic Party 1, Republic 1

elections: last held on 1 September 2015 (next to be held no later than October 2019)

election results: percent of vote by party - Social Democratic Party 25.1%, Republic 20.7%, People's Party, 18.9%, Union Party 18.7%, Progressive Party 7.0%, Center Party 5.5%, Self-Government Party 4.1%; seats by party - Social Democratic Party 8, Republic 7, People's Party 6, Union Party 6, Center Party 2, Progressive Party 2, Self-Government Party 2

Judicial branch:

highest court(s): Faroese Court or Raett (Rett - Danish) decides both civil and criminal cases; the Court is part of the Danish legal system

subordinate courts: Court of the First Instance or Tribunal de Premiere Instance; Court of Administrative Law or Tribunal Administratif; Mixed Commercial Court; Land Court - expected to begin in 2016

note: adopted 1948; the anthem is also known as "Tu alfagra land mitt" (Thou Fairest Land of Mine); as a self-governing overseas administrative division of Denmark, the Faroe Islands are permitted their own national anthem

The Faroese economy has experienced a period of significant growth since 2011, due to increases in fish prices, salmon farming, and catches in the pelagic fisheries. Nominal GDP growth was an estimated 7.5% in 2013 and 5.9% in 2014. The fisheries sector accounts for about 95% of exports and half of GDP. Unemployment is low, estimated at 2.9% in mid-2015. The public budget has exhibited deficits since 2008, which were financed through increased borrowing. Public debt reached 38% of GDP in 2015. Aided by an annual subsidy from Denmark amounting to about 4% of Faroese GDP, the Faroese have a standard of living equal to that of Denmark. Dependence on fishing makes the economy vulnerable to price fluctuations. Projections for fish prices are favorable and increasing public infrastructure investments are likely to lead to continued growth in the short term. The Faroese economy has experienced a period of significant growth since 2011, due to increases in fish prices, salmon farming, and catches in the pelagic fisheries. Nominal GDP growth was an estimated 7.5% in 2013 and 5.9% in 2014. The fisheries sector accounts for about 95% of exports and half of GDP. Unemployment is low, estimated at 2.9% in mid-2015. The public budget has exhibited deficits since 2008, which were financed through increased borrowing. Public debt reached 38% of GDP in 2015. Aided by an annual subsidy from Denmark amounting to about 4% of Faroese GDP, the Faroese have a standard of living equal to that of Denmark. Dependence on fishing makes the economy vulnerable to price fluctuations. Projections for fish prices are favorable and increasing public infrastructure investments are likely to lead to continued growth in the short term.

1 publicly owned TV station; the Faroese telecommunications company distributes local and international channels through its digital terrestrial network; publicly owned radio station supplemented by 3 privately owned stations broadcasting over multiple fr (2015)

no regular military forces; the Government of Denmark has responsibility for defense; as such, the Danish military’s Joint Arctic Command is responsible for territorial defense of the Faroe Islands (2016)

because anticipated offshore hydrocarbon resources have not been realized, earlier Faroese proposals for full independence have been deferred; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm